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Baru Resources Ltd Announces Recommended Off-Market Takeover Offer For Argosy Minerals Ltd

Monday, 1 Jul 2013 07:34pm EDT

Baru Resources Ltd and Argosy Minerals Ltd announced the signing of a Takeover Bid Implementation Deed (Implementation Deed) under which it is proposed that Baru will acquire all of the issued shares of Argosy in a share based transaction by way of an off-market takeover offer. Under the Offer, Argosy shareholders will receive one new Baru share for every one Argosy share held. Baru currently has on issue 49,796,009 shares and Argosy has on issue 126,029,105 shares. Baru will therefore issue 126,029,105 shares as consideration for the acquisition. The Offer values Argosy at $0.038 per share based on Baru’s closing share price on the ASX on July 1, 2013. Baru has cash reserves and other receivables on hand at current date of approximately $3 million, representing a net asset backing of approximately $0.06 per share. The Argosy Board unanimously recommends that Argosy shareholders accept the Offer in the absence of a superior proposal. The takeover is supported by a majority of the Baru board. The transaction would create an entity with net cash and semi-liquid reserves of approximately $3 million held by Baru, combined with the potential of the Argosy graphite project in Namibia. In addition, management expertise will be combined, and those shareholders who hold interests in both Companies will enjoy the synergies of one combined entity.

SI Resources Co Ltd Amends Settlement Date for Acquiring Russia-based Company

Friday, 28 Jun 2013 03:02am EDT

SI Resources Co Ltd announced that it has made an amendment to the acquisition of 5,000 shares of a Russia-based company, which is mainly engaged in the harbor operations, initially announced on May 6, 2013. After the amendment, the expected transaction settlement date has been amended to July 31, 2013.

Waterberg Coal Co Ltd Announces Off-Market Takeover Offer For All Of Ordinary Shares In Firestone Energy Limited

Friday, 28 Jun 2013 12:25am EDT

Waterberg Coal Co Ltd announced that in relation to the offers made under its off-market takeover bid for all of the ordinary shares in Firestone Energy Limited (FSE) (the Offers) pursuant to its bidder’s statement dated January 30, 2013 as supplemented by supplementary bidder’s statements dated made earlier. The Company now announced that it gives notice that it varies the Offers by extending the period during which the Offers will remain open so that the offer will now close on July 30, 2013 (unless further extended).

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Analyst Research

Report Title Price
ATH RESOURCES - DELIVERING STEADY GROWTH
Provider: Edison Investment Research
$10.00
Buy
ORACLE COALFIELDS - STRIDING AHEAD
Provider: Edison Investment Research
$10.00
Buy
ORACLE COALFIELDS - DE-RISKING BLOCK VI
Provider: Edison Investment Research
$10.00
Buy
ORACLE COALFIELDS - SIGNS MOU WITH KARACHI ELECTRIC SUPPLY COMPANY
Provider: Edison Investment Research
$10.00
Buy
ALTONA ENERGY - LIQUID COAL
Provider: Edison Investment Research
$10.00
Buy

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